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Form 1040 - Business Income  

CATEGORY: Taxation
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3 CPE Credits

Income from a trade or business is includible in gross income. Under IRC Sec. 162, ordinary, necessary, and reasonable expenses incurred in the production of income in a trade or business activity are generally allowable as deductions against this income. This program examines the compliance issues associated with the reporting of business income and expenses by an individual taxpayer, with particular focus on Schedule C of Form 1040. This course has been updated to reflect legislative changes included in the Tax Cuts and Jobs Act of 2017 (TCJA) signed into law by the President on December 22, 2017.

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